SMALL BUSINESS AND SOLE TRADER BOOKKEEPING SERVICES
AFFORDABLE, RELIABLE BOOKKEEPING SERVICES PROVIDED TO SOLE TRADERS AND BUSINESSES THROUGHOUT AYRSHIRE, GLASGOW AND EDINBURGH
LEAVING YOU FREE TO FOCUS ON YOUR CUSTOMERS!
Often it’s hard enough to answer emails, never-mind do full bookkeeping to ensure that you can produce an accurate set of company accounts. These days despite the fact we live in an information era, it’s just as hard to keep books up to date and everything perfect.
Luckily, at Firstax, we can help you with all the tedious paperwork and ensure that everything is up-to-date and accurate. Most importantly – it lets you focus on the most important thing of all – your business. Bookkeeping is an important part of any business. Mainly due to the fact, that if your company doesn’t keep adequate financial records, you can be fined by the HMRC, up to £3,000! Combine that with the requirement by law – to submit an annual return, it’s imperative you make it keeping concise financial records a priority.
Bookkeeper or Accountant - What's the Difference?
The term itself, bookkeeper can and is, often used when referring to an accountant and vice versa. The difference between the two is based within their roles.
Quite often, bookkeepers become bookkeepers through being in an employed position as a data entry clerk or as some sort of entry-level bookkeeper. Generally, through experience and aptitude they begin to provide their own services, as bookkeepers. Many go onto become qualified and provide bookkeeping services properly, although this is not legislation. Anyone who wants to provide bookkeeping services and call themselves a bookkeeper, basically can.
Accountants on the other hand, with many of them being bookkeepers in the past, have obtained their professional qualifications as competent accountants. Quite often, many accountancy firms have a bookkeeping service. The bookkeeper acting like a “bridge” between an accountant and the client.
Another point worth a note, is both terms bookkeeper and accountant can be used without any qualifications. It’s important to establish what qualifications a person or company has – before engaging in imperative financial services.
Do I Really Need a Bookkeeper?
Whether it’s a bookkeeper, accountant or you have the ability to manage your own company accounts or end of year tax return. It is your responsibility to get the support to manage your tax responsibilities, if you can’t.
There are numerous types of self-employed individual, ranging from the self-employed freelancer and sole trader to limited companies and limited liability partnerships.
Choosing between a bookkeeper and accountant really comes down to how much you are willing to do yourself. A bookkeeper provides bookkeeping services, that’s it, in most cases.
An accountancy firm like Firstax, provides bookkeeping services, admin services, support whenever you need advice, deals with the HMRC and CH on your behalf, and generally has more knowledge of employment legislation, corporate requirements and overall company compliance.
Accountants generally provide an all-encompassing service and are far more hands-on when it comes to minimising your tax liabilities.
Still not sure what’s best for your business? Contact us for a free, no-obligation consultation.
Firstax Bookkeeping Services
Our bookkeeping services provide far more than just your regular bookkeeper. Catering for all types of self-employed individual, freelancer or small business.
Our cost effective bookkeeping services include the administration and processing of VAT Returns, Tax returns and minimising your tax liability in conjunction with our accounting division, our service includes;
- Calculation and administration of all invoices, expenses, outgoings and costs
- VAT and TAX returns
- Proactively minimising your tax liability
- Submit your end of year tax return to the HMRC
If you’re a self-employed, freelancer, sole trader or small business in need of a few hours of support each month or a few days, we’ve got you covered! What’s more, you can be safe in the knowledge your books will be perfectly prepared and all calculations correct.